Do you get in your car and drive off with no destination in mind?
Or board a plane without knowing where it's headed?
You probably don't do either very often.
Everyday we make financial decisions without any clarity on where we're headed.
But how can you possibly know where your kids will go to college & how much that will cost?
If you can really afford the lake house and when it's time to take the plunge?
Or when you'll be ready to retire and how much you'll need?
You can't know any of these answers any real sense of certainty but that doesn't mean you should ignore these questions.
In the absence of certainty, you need to do the next best thing - GUESS.
You'll probably be wrong but it's not about being right. It's about picking a destination that allows you to uncover the actions you need to take to move closer to it.
Your destination will almost certainly change along the way. That's to be expected.
For instance, what do you do when you're driving and your navigation tells you there is an accident ahead? You adjust your route.
You should be doing the same with your financial planning.
When new information presents itself, you update your planning and adjust your route.
While nobody likes uncertainty, it's helpful to accept that uncertainty is the only reality.
So go ahead and take your best guess. Then update your guess as new information presents itself.
This can be a simple process that can help uncover the financial actions you need to take to end up where you want to be...no matter how many times your destination might change.